Shivaji Rao Bhosale Sahakari Bank Ltd., Pune was placed under directions vide directive DCBS.CO.BSD-I/D-14/12.22.254/2018-19 dated May 03, 2019 from the close of business on May 04, 2019. The validity of the above directions were extended from time to time, the last being vide Directive DOR.CO.AID.No. D-77/12.22.254/2019-20 dated April 24, 2020 and is valid up to August 04, 2020.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), hereby directs that the Directive DCBS.CO.BSD-I/D-14/12.22.254/2018-19 dated May 03, 2019, issued to Shivaji Rao Bhosale Sahakari Bank Ltd., Pune as modified from time to time, the validity of which was last extended up to August 04, 2020, shall continue to apply to the bank for a further period of two months from August 05, 2020 to October 04, 2020, as per the Directive DOR.CO.AID.No.D-10/12.22.254/2020-21 dated July 31, 2020, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

4. A copy of the directive dated July 31, 2020 notifying the above extension is displayed at the bank’s premises for the perusal of public.

5. The aforesaid extension and/or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/242